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POSTED: Saturday, August 01, 2009
                       
This story has been corrected.  See below.

HawTel ended June with more cash

Hawaiian Telcom reported yesterday that it ended the month of June with a cash balance of $102.9 million, up 3.3 percent from $99.6 million in May.

Operating revenue came in at $33.9 million, slightly less than the $34.7 million recorded in May. Operating expenses, meanwhile, fell to $23.9 million, 7 percent lower than $25.7 million in May.

The company posted a net loss of $8.9 million, consistent with May.

HawTel spokesman Brian Tanner said the company has been cutting costs, while revenue has remained consistent.

Castle Medical reassigns staff

Castle Medical Center said eight employees — seven physicians and one administrative assistant — are being assigned to a new contract with Inpatient Medicine Services LLC. The Kailua center has 1,060 employees.

               

     

 

CORRECTION

       

Castle Medical Center clarified that eight employees—seven physicians and one administrative assistant—are being assigned to a new contract with Inpatient Medicine Services LLC. Originally, the item above said Castle Medical Center was laying off nine employees.

       

 

       

Pro-Bilt in Wailuku calls it quits

Pro-Bilt Transpacific JV of California has ceased operations in Wailuku, laying off all of its employees there.

Pro-Bilt is listed in online directories as having one to five employees and annual sales of less than $500,000.

The company, a Hawaii joint venture, officially shut on Thursday, according to a notice filed yesterday with the state Department of Labor.

Singaporean firm in on isle project

A Singaporean investment firm is investing in the Villages of Aina Lea, a 1,000-plus-acre golf course community on the South Kohala coast, officials with the Big Island development announced.

Capital Asia Group Pte Ltd. has signed an agreement with DW Aina Lea Development LLC to raise $62 million or more for the first phase of the project. It has also expressed interest in future financing for the completion of the master-planned community.

The Villages of Aina Lea is expected to offer 385 “;affordable”; homes, along with market-priced homes, condos, golf, a shopping center, offices and medical facilities.

Judge sides with SEC in Stanford case

DALLAS » A federal judge ruled yesterday that a court-appointed receiver who took over companies run by Texas billionaire R. Allen Stanford can recover only the interest—not the principal—on investments that federal prosecutors say fed a multibillion-dollar Ponzi scheme.

Judge David C. Godbey sided with the Securities and Exchange Commission. In an emergency motion, the SEC said lawyer Ralph Janvey was targeting innocent investors who should not have to return their original investments in certificates of deposit at Stanford's bank in Antigua.

On the move

» Hospice Hawaii has named Dr. Geoffrey T. Galbraith as co-medical director. He has 35 years of clinical, educational and medical administration experience. Previously he was a clinician and held various leadership roles with Hawaii Permanente Medical Group (Kaiser Permanente).

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The Halekulani Hotel in Waikiki has announced the following appointments:

» Lena Mossman as director of SpaHalekulani. She previously was director of Moana Lani Spa at the Moana Surfrider.

» Julie Oki as director of the training division. She previously was an administrator for the Cancer Research Center of Hawaii at the University of Hawaii.